Kevin Helms
A student of Austrian economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of finance and cryptography.
Liechtenstein Prime Minister Says Government Will Accept Bitcoin Payments, Open To Invest Reserves In BTC – Regulation Bitcoin News
Liechtenstein’s prime minister has reportedly revealed that bitcoin payments will be accepted for some public services. “A bitcoin payment option is coming,” he said, adding that he is open to investing government reserves in the cryptocurrency.
Bitcoin adoption in Liechtenstein
Daniel Risch, Liechtenstein’s prime minister who also serves as the country’s finance minister, has reportedly revealed that Liechtenstein plans to accept bitcoin payments for certain government services. He said in an interview with German business newspaper Handelsblatt on Sunday without giving a specific time frame:
A payment option with bitcoin is coming.
Risch explained that Liechtenstein plans to accept bitcoin and immediately exchange BTC for Swiss francs, the national currency, to avoid exchange rate risks. He also clarified that the cryptocurrency will not have the same status as the Swiss franc.
The prime minister also told the news channel that he was open to investing government reserves in bitcoin in the future.
Liechtenstein’s reserves, which currently stand at about 2.23 billion Swiss francs ($2.51 billion), are mainly invested in securities, Handelsblatt reported, citing the finance ministry.
Risch was further quoted by Reuters as saying:
Cryptocurrencies like bitcoin are still too risky. But this assessment can of course change.
In October 2019, Liechtenstein’s legislature approved the “Token and Trustworthy Technology Service Providers Act” (abbreviated TVTG in German). The government noted in its announcement at the time that with the new law, Liechtenstein will become the first country to comprehensively regulate the token economy.
What is your opinion on the plan of the government of Liechtenstein to accept bitcoin payments and the possibility of investing reserves in bitcoin? Let us know in the comments section below.
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